Global Sodium Nitrate Market - Investment in Emerging Economies to Gain Market Share


Posted December 27, 2018 by DamonGillespie

The report covers the present scenario and the growth prospects of the global sodium nitrate market for 2018-2025.

 
The global sodium nitrate market is projected to value USD xxx.xx in 2018. This value, is growing at x.x% CAGR during the forecast period and is expected to upscale to USD xxx.xx by the end of 2025.

Key factors that are inclining the growth of sodium nitrate market upwards is easy manufacturing process coupled with low cost when compared to other nitrogen-based fertilizers. The manufacturing process is derived from a single-step chemical reaction, from starting compound such as ammonium nitrate and nitric acid. Moreover, there is a recorded shift towards organic farming which will help sodium nitrate market gain traction during the forecast period.

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The motive behind higher adoption of organic farming is less energy requirements. Additionally, it has lesser adverse effects on environment as they don’t indulge the use of synthetic pesticides and herbicides. It’s also eco-friendly as it generates less carbon dioxide and require less nitrate fertilizers than conventional farming, which results in less production of nitrous oxide (formation of nitrous oxide is the major factor for acid rain).

Sodium nitrate is one of the essential element of renewable energy. With the rising energy consumption due to growing population, non-renewable resources are easily depleted. Thus, to satisfy growing population requirements, renewable energy has to be adopted. This is will result in reduced carbon emission and less depletion of natural resources.

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Terms of geography, the sodium nitrate market can be classified into Latin America, North America, Europe, Middle East & Africa, Asia Pacific and Europe. China and SEA & the rest of APAC is anticipated to expand at a rapid pace due to increasing demand for sodium nitrate applications across various domains along with growing population. The market growth is favorable in countries like dia, China and Japan due to the rapid industrialization along with growing population. Asia is most promising market owing to growing chemicals, plastic & rubber, healthcare, pharmaceutical and healthcare industry. North America and Europe (Germany, the U.K. and France) holds the next most prominent share of the global sodium nitrate market owing to higher demand for sodium nitrate in the food and agriculture industry.

Based on type, the market classifies into pharmaceutical grade, food grade, industrial grade and others. The industrial grade segment holds key share in global sodium nitrate market. Industrial grade sodium nitrate demand has grown up because of higher consumption of reprographic agents, photochemical products, metal casting and fertilizers. But, the obstacles that may occur in the market growth are excess use may lead to health concerns among consumers.

On the basis of end-use, the sodium nitrate market is classified into food construction chemicals, fertilizers, food additives, construction chemicals, pharmaceuticals, explosives, wastewater treatment, and others. Fertilizers sector has a substantial share in the global sodium nitrate market. These fertilizers are highly in demand due to their high solubility and biodegradability.

Companies who operate and dominate the sodium nitrate market include Dahua Group Dalian Guanlin International Trade Co., Ltd., Shandong Haihua Group Co., LTD, SQM (Sociedad Química y Minera), Liuzhou Chemical Industry Co., Ltd., Hangzhou Xinlong Chemical Co., Ltd., Rashtriya Chemicals and Fertilizers Limited, BASF SE and Sumitomo Chemical Co., Ltd.

Key segments of ‘Global Sodium Nitrate Market’

Based on grade, the market has been segmented into,

Industry grade sodium nitrate
Food grade sodium nitrate
Pharmaceutical grade sodium nitrate
Based on end-use industry, the market has been segmented into,

Fertilizers
Pharmaceutical & Healthcare
Explosives
Food & Beverage
Others
Based on region, the market has been segmented into,

North America
Latin America
Europe
China
Japan
South East Asia (SEA) & Other Asia Pacific (APAC)
Middle East & Africa
What to expect from the upcoming report on ‘Global Sodium Nitrate Market’:

- Future prospects and current trends of the global sodium nitrate market by the end of forecast period (2018-2025)

- Information regarding technological progressions as well as innovations taking place in developing economies

- Supportive initiatives by government likely to influence the market dynamics

- Trends, drivers, opportunities, restraints, challenges and key developments in the market

- In-depth analysis of different market segmentations including regional segmentations, and product types

- Deep analysis about the competitive landscape of the market and the initiatives by them to improve this market

Who should buy this report?

Venture capitalists, Investors, financial institutions, Analysts, Government organizations, regulatory authorities, policymakers ,researchers, strategy managers, and academic institutions looking for insights into the market to determine future strategies.

Enquire more details of the report at: https://www.adroitmarketresearch.com/researchreport/purchase/286

About Us:

Adroit Market Research is an India-based business analytics and consulting company incorporated in 2018. Our target audience is a wide range of corporations, manufacturing companies, product/technology development institutions and industry associations that require understanding of a market’s size, key trends, participants and future outlook of an industry. We intend to become our clients’ knowledge partner and provide them with valuable market insights to help create opportunities that increase their revenues. We follow a code– Explore, Learn and Transform. At our core, we are curious people who love to identify and understand industry patterns, create an insightful study around our findings and churn out money-making roadmaps.

 
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Issued By Adroit Market Research
Country United States
Categories Business
Last Updated December 27, 2018